Definition of wealth tax in English:

wealth tax

noun

  • A tax levied on personal capital.

    ‘an increase in wealth tax’
    count noun ‘an immediate objective should be the introduction of a wealth tax’
    • ‘In Namibia, taxpayers have been very fortunate up to now in that no wealth taxes are operative, and to date donations, estates and capital profits attracted no tax.’
    • ‘A small, say 10 percent, wealth tax would raise over £10 billion as a one-off contribution to the public sector.’
    • ‘In countries where wealth tax applies, it is typically levied on the owner by reference to the value of assets held by the owner on the final day of the tax year.’
    • ‘A White Paper published in February 1974 proposed a capital gains tax of 35 per cent and an annual wealth tax on estates of over £40,000.’
    • ‘There is no capital gains tax, sales tax or VAT, inheritance tax or wealth tax on the Rock.’
    • ‘I would introduce a wealth tax forcing the rich to pay taxes here, even if they live abroad.’
    • ‘Another scandal came out in 1983 when it was claimed that Le Pen hadn't paid the French wealth tax in three years and owed some two million francs.’
    • ‘But the Greens have no plans to reintroduce a wealth tax, Boyle said.’
    • ‘Under the current method rates are increasingly becoming a wealth tax or a tax on assets held in the form of land.’
    • ‘Despite many capital-friendly reforms, Sweden maintains a wealth tax that whittles away at even small amounts of accumulated assets.’
    • ‘Pre-election promises, such as the reintroduction of wealth tax and taxation of trading profits, have been filed away.’
    • ‘He suggested that by means of a graduated wealth tax of up to 75 percent, an appropriate contribution to the economic consequences of the war should be extracted from the large-landed estates and big business interests.’
    • ‘Labour leader Pat Rabbitte said yesterday he wanted to introduce a new wealth tax to fund vital areas such as health and transport services.’
    • ‘But he thinks one 40-year-old idea still has merit; replacing inheritance tax, capital-gains tax and stamp duty with a single 1% wealth tax.’
    • ‘Can you imagine the cry from city dwellers if a wealth tax of 20 per cent was applied to their properties?’
    • ‘A wealth tax and high insurance costs are keeping them from working at home.’
    • ‘Non-residents with taxable assets of more than €750,000 in France are liable for this tax; it is not covered in double taxation treaties, as a similar wealth tax does not exist in Ireland.’
    • ‘Australia is notable for not having a wealth tax of any sort.’
    • ‘Also, as surveys have shown, people tend to believe that a fair tax rate is about 20%, but certainly less than 30%, and that wealth taxes (property and estate) are the most unfair.’
    • ‘There are three obvious ways that society can capture the unearned increment: by requiring lease payments from the land user, by a wealth tax, and by a tax on rental income.’

Pronunciation

wealth tax